Gold price weaker ahead of critical data points; Powell comments
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The gold price is weaker ahead of critical data points and comments from Powell. The U.S. ISM PMI dropped to 48.5, causing the gold price to fall. However, there was a short covering that led to an increase in the gold price. Wall Street will be on the sidelines next week, while Main Street is divided on gold's price prospects. Gold was the winner in the 2024 Presidential Debates, according to MarketGauge.com's Schneider. The gold miners' price moves are considered unusual, as stated by Sprott's Ryan McIntyre.

#Gold #Price #DataPoints #Powell #IsmPmi #ShortCovering #WallStreet #MainStreet #PresidentialDebates #GoldMiners

https://www.kitco.com/news/article/2024-07-02/gold-price-weaker-ahead-critical-data-points-powell-comments